Datuk Abdul Rahman Ahmad, Group CEO, CIMB Group (right) and Khairul Rifaie, Group Chief Financial Officer, CIMB Group at the announcement of CIMB Group’s first half FY2020 financial results.
PETALING JAYA: CIMB Group
Holdings Bhd expects the second half of 2020 to remain challenging and loan loss provisions to remain elevated.
Group CEO Datuk Abdul Rahman Ahmad told journalists via a video conference that the elevated provisions are driven by recognition of the impact of macroeconomic factors under MFRS9 accounting standard, and also impairments on specific accounts outside Malaysia.
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